Pea-Based Milk Maker Ripple Foods Raises $60 Million to Expand

Ripple Foods, a maker of pea-based dairy products, raised $60 million to fund expansion and help it capitalize on growing consumer demand for plant-based foods.

The Series E round was led by Rage Capital, Ajax Strategies and S2G Ventures, and also included OurCrowd, Fall Line Capital and Tao Capital Partners. Ripple declined to provide a valuation but said it was significantly higher than in previous rounds. According to data provider PitchBook, the company was valued at $357 million last month, though the company disputed that figure without providing additional details.